Allgreen Sells 54 Promenade Peak Launch Day Premium Units Fetch Average 3343 Psf
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Today, the 99-year leasehold Promenade Peak has achieved a sales rate of 54%, with 320 out of 596 units sold since sales began on August 1. According to the developer, Allgreen Properties, the average price achieved for units was $3,343 psf for the premium three- to five-bedroom units with private lift, known as the Promenade Suites. Meanwhile, the Promenade Collection, consisting of one- to three-bedroom units on the lower tier, saw an average price of $2,894 psf.
Nearly 60% of the three- to five-bedroom premium units have been sold, with the highest price transacted at $3,521 psf for a 1,582 sq ft four-bedroom premium unit on the 61st floor, fetching $5.57 million. Another five-bedroom premium unit on the 59th floor was also sold for close to $6.6 million, at $3,495 psf. The sales rate and prices achieved at Promenade Peak highlights the strong demand and confidence from buyers, with Singaporeans making up 90% of the buyers followed by Permanent Residents at 9% and foreigners at 1%.
Managing Director of Allgreen Properties, Tho Leong Chye, says that this demonstrates buyers’ preference for premium offerings and the prime city-fringe location. He adds that it also reflects the sophistication of today’s buyers who look beyond just value and pay attention to details such as refined finishes, thoughtful layouts, and a well-curated suite of facilities.
According to Mark Yip, CEO of Huttons Asia, the strong performance for the larger units also reflects the clear preference for space, especially in centrally located homes. Meanwhile, CEO of PropNex, Kelvin Fong, notes that two- and three-bedroom units accounted for 82% of all sales, suggesting that many of the buyers at Promenade Peak are end-users who intend to use the units for their own purposes. He also adds that the project’s family-friendly unit sizes have attracted HDB upgraders from nearby estates such as Tiong Bahru, Havelock, Henderson, and Queenstown, where the high resale prices allow households to use the proceeds for private housing and achieve their upgrading goals.
Promenade Peak is located at 1 Zion Promenade in District 3, just a two-minute sheltered walk to Great World MRT and a four-minute walk to Havelock MRT. It is also close to Zion Road Food Market and within 1km of River Valley Primary School, making it an attractive location for families. The project offers panoramic views and elevated lifestyle offerings, such as the highest infinity pool in Singapore, as well as being a part of the vibrant Great World City integrated development.
Promenade Peak is the newest Rest of Central Region (RCR) project launched this year, following the successful launch of LyndenWoods in Science Park where 94% of 324 units were sold on the launch day. Analysts suggest that these back-to-back strong launches may boost new home sales in the RCR for 3Q2025, according to PropNex’s Fong. Two other projects were also launched over the weekend: River Green in District 9 with 524 units, and Canberra Residences in District 27 with 376 units. Together, these launches have put 1,496 new units on the market, with more than 62% being sold on the first day, August 2.
In July, 893 new private homes were sold, and with the strong performance seen over the first weekend of August, the cumulative new home sales for July and August have already exceeded 1,820 units. This surpasses the total of 1,212 units sold in the entire 2Q2025, suggesting a pickup in buyer demand, according to PropNex Research.
CEO of SRI, Mohan Sandrasegeran, adds that the strong sales seen at Promenade Peak and River Green could shape buyer expectations and influence developer strategies for future launches in the River Valley area, such as Zyon Grand later this year and River Valley Green (Parcel B) in 2026. Overall, the strong performance of new launches in the RCR is expected to impact future launches as well, with buyers displaying confidence in the residential property market in the mid- to long-term.